Dow Jones futures and other major indexes fell following the market’s new record session, as Federal Reserve Chairman Jerome Powell was scheduled to speak again on Friday. Meanwhile, the electric vehicle leader is tesla (TSLA) fell on the stock market today after it was reported that the company had cut production at its Chinese factory.
X
In morning trading, Dow Jones futures were down 0.1% to fair value, and S&P 500 futures were down 0.2%. Futures on the tech-heavy Nasdaq 100 fell 0.3% before the opening bell.
Among U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) fell 0.3%, while the SPDR S&P 500 ETF (spy) Edges are lower.
The 10-year US Treasury yield fell to 4.24%. Additionally, oil prices paused after two days of declines as West Texas Intermediate futures fell slightly, trading around $81 per barrel.
Tesla stock fell more than 4% Friday morning. reported by bloomberg The company announced that it had cut production at its Chinese factory due to slowing sales growth and intensifying competition.
Be sure to read how to adapt to changing market conditions with IBD’s new exposure levels.
Stock Market Today: Powell Speech
Federal Reserve Chairman Jerome Powell is scheduled to give the opening remarks. Fed Listens Event It is scheduled to begin at 9 a.m. ET on Friday. The event will feature perspectives on the current economic situation and discuss how the pandemic has reshaped the economy and the U.S. workforce.
The scheduled speech comes two days after Powell addressed reporters after two days of Fed meetings. Chairman Powell suggested Wednesday that the Fed still expects three rate cuts before the end of the year.
Friday morning’s key earnings reports include: fedex (FDX), lululemon athletica (Lulu) and Nike (NKE).
FedEx soared 12% in premarket trading, while Lululemon stock fell 13%. Nike stock fell 6% in early morning trading.
Dow Jones hits new highs
On Thursday, the Dow Jones Industrial Average rose 0.7% and the S&P 500 rose 0.3% after a pause in its 0.7% rise. The tech-heavy Nasdaq Composite Index rose just 0.2% after rising as much as 1%. The small-cap Russell 2000 rose 1.1% to close just below the 2100 level.
Thursday’s Big Picture column said, “Compared to Wednesday’s trading, volume was down on the Nasdaq, but volume was up on the New York Stock Exchange. As a result, an unusual form of institutional investors called a stall day “Selling occurred. This movement suggested that institutional investors were taking advantage of intraday trading.” They come together to sell power and steal profits. ”
As the stock market continues to rise, now is an important time to read IBD’s The Big Picture column. Be sure to read how to adapt to changing market conditions with IBD’s new exposure levels.
Learn how to time the stock market with IBD’s ETF Market Strategy
Best stocks to buy and watch in the stock market today
Arista Networks (ANET), Duolingo (Duor), dexcom (DXCM) and draft kings (DKNG) — plus Dow Jones component disney (DIS), IBM (IBM) and procter and gamble (P.G.) — one of the best stocks to buy and watch in the stock market today.
Arista and Disney were featured in this “Stocks Near a Buy Zone” column.
Essential resources for daily breakouts include: IBD Market Surge “Today’s Breakout” list.it shows Rapid market growth 250 Stocks that are breaking through new buy points.There were 4 new breakouts on Thursday, including IBD Stock Of The Day owl capital (owl).
Meanwhile, MarketSurge’s “Near Pivot” list shows stocks that are nearing buy points on the basis of: alphabet (Google) is approaching a buy point at 153.78. Shares were up 0.4% Friday morning.
Get real-time buy and sell alerts on stock market leaders with IBD Leaderboard
Dow Jones Stocks: Disney in buy range
According to IBD Market Surge chart analysis, Disney is in a buy range above the major base buy point of 112.92 for cups with handles. Disney stock was slightly lower on Friday morning.
IBM stock remains below its flat-based buy point of 196.90 and was down 1.1% on Thursday. The stock fell 0.2% on Friday.
Consumer goods giant Procter & Gamble fell slightly on Thursday, but remains above its cup-based buy point of 158.38. P&G stock rose slightly on Friday.
4 Top Growth Stocks to Watch stock market rise
Stock Market Today: The Rise of DraftKings
According to , Arista stock rose 2.7% on Thursday, further above its flat-based buy point of 292.66. market surge chart. And on Friday morning, Arista stock fell 0.3%.
IPO leader Duolingo is on track to break through the Cup with Handle’s 241.86 entry amid Thursday’s 0.7% gain. Duolingo stock fell 0.6% on Friday.
Dexcom stock rose 0.7% on Thursday, still above its entry price of 132.03 on a flat basis. Dexcom stock rose 0.6% early Friday.
Finally, DraftKings moved out of buy range above the 46.52 buy point on a short-term consolidation and rose another 3.6% on Thursday. The stock was down 0.5% on Friday morning.
Up-and-coming stock
These are four stocks in the buy zone or near the buy zone on the stock market today.
| Company Name | symbol | correct purchase point | Types of purchase points |
|---|---|---|---|
| disney | (DIS) | 112.92 | cup with handle |
| Arista Networks | (ANET) | 292.66 | flat base |
| draft kings | (DKNG) | 45.62 | integration |
| Duolingo | (Duor) | 241.86 | cup with handle |
Source: IBD data as of March 19, 2024
IBD experts break down the top stocks in the current stock market rally on IBD Live.
Magnificent Seven stocks: Nvidia, Tesla
Magnificent Seven Stocks Nvidia (NVDA) fell 0.5% in premarket trading on Friday.
Nvidia stock rose 1.2% on Thursday, extending its winning streak to four sessions. Nvidia is his IBD leaderboard stock.
Dow Jones Leader: Apple, Microsoft
Among the Dow Jones stocks in the Magnificent Seven are: apple (AAPL) and microsoft (MSFT) rose ahead of the stock market’s opening on Friday.
Apple shares fell 4.1% on Thursday, ending a three-day winning streak and returning to near recent lows. The stock price remains well below its long-term 200-day line. On Friday, Apple fell 0.2%.
Microsoft stock found support at its 50-day line last week and hit a new high on Thursday. Microsoft stock fell 0.3% on the stock market that day.
Be sure to follow Scott Lehtonen on X, formerly known as Twitter. @IBD_SLehtonen Learn more about growth stocks, the Dow Jones Industrial Average, and today’s stock market.
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